Toronto, Ontario – February 21, 2023 (Newsfile Corp.) (Investorideas.com Newswire) Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTCQB: TRUFF) (“Red Light Holland” or the “Company”), an Ontario-based corporation engaged in the production, growth, and sale of functional mushrooms and mushroom home grow kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws, is extremely pleased to announce that their portfolio company, Happy Caps Mushroom Farm (“Happy Caps”), has expanded their distribution of their Mushroom Home Grow Kits to over 90 retail stores across Canada, including 22 Canadian Tires in 7 different Provinces.
“We continue to be pleased with the overall growth of Happy Caps Home Grow Kits, as we continue to scale up in Canada. Having Happy Caps’ Mushroom Home Grow Kits accepted into 22 Canadian Tire stores, is just another significant step for further brand and revenue growth,” said Todd Shapiro, Chief Executive Officer and Director of Red Light Holland. “We are also pleased to gather a ton of data, information, know how and relationships around Mushroom Home Grow Kits as we plan on launching MISTERCAP’s Home Grow Kits, with marketing Advisory services provided by Wiz Khalifa, focusing on sales in both the United States and Europe in the summer of 2023.”
Pictured: Happy Caps Mushroom Home Grow Kits
“The growing consumer trend of urban gardening and mushroom adoption continues to gather attention. With this momentum, we continue to establish and expand our relationships with retailers who are looking to capitalize on the growth of the sector overall. With Happy Caps now in multiple Canadian Tire and Loblaws’ Real Canadian Superstore locations, we feel enthusiastic about continuing to grow our distribution and future sales,” said Ridley Doolittle, Red Light Holland’s Chief Marketing Officer.
“We hope you’ll continue to watch the growth, like the literal growth of mushrooms, on our Instagram at www.instagram.com/happycaps.hfx and of course we’d love for you to support the brand as Happy Caps Mushroom Home Grow Kits are also available for purchase online at http://www.HappyCaps.ca, http://www.Amazon.ca, http://www.Amazon.com and Well.ca,” concluded Mr. Shapiro.
Canadian Tire Store Locations
910-57 AVE. N.E. CALGARY, AB T2E 7P4
700 BOUL MGR DUBOIS SAINT JEROME, QC J7Y 4Y9
75 TWO NATIONS CROSSING FREDERICTON, NB E3A 0T3
9212 COMMERCIAL ST NEW MINAS, NS B4N 3E9
2801 CLIFF AVENUE COURTENAY, BC V9N 2L8
505 BETHANY STREET LACHUTE, QC J8H 4A6
16821 TRANS CANADA KIRKLAND, QC H9H 5J1
6312 200th STREET LANGLEY, BC V2Y 1A1
112 WARWICK ST DIGBY, NS B0V 1A0
4500 ARMAND VIAU QUEBEC, QC G2C 2B9
11940 SARCEE TRAIL NW CALGARY, AB T3R 0A1
200 KING STREET ESTEVAN, SK S4A 2W4
18 CHILKOOT WAY WHITEHORSE, YT Y1A 6T5
1610 HILLSIDE VICTORIA, BC V8T 2C5
855 SENINARE NORD ST JEAN RICHELIEU, QC J3A 1J2
6310 YONGE ST CENTREPOINT MALL WILLOWDALE, ON M2M 3X4
1901 EGLINTON AVENUE EAST SCARBOROUGH, ON M1L 2L6
1170 HERON RD OTTAWA, ON K1V 6B2
120 STARRS RD YARMOUTH, NS B5A 4T3
750 ST JAMES ST WINNIPEG, MB R3G 3J7
201 NINTH ST E CORNWALL, ON K6H 2V1
11628 – 8th STREET DAWSON CREEK, BC
About Happy Caps Mushroom Farm
Happy Caps is an urban gourmet mushroom farm located in Halifax, Nova Scotia that specializes in quality ‘grow your own mushroom kits’ and mushroom plug spawn.
MISTERCAP’S is a mushroom wellness brand founded in 2022 to create innovative functional mushroom wellness products and is affiliated with multi-platinum-selling, GRAMMY(R) and Golden Globe(R) Award-nominated recording artist Wiz Khalifa, who provides marketing advisory services to the company. More information is at MISTERCAP.COM and INSTAGRAM.COM/MISTERCAP.
About Red Light Holland
Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles.
For additional information:
Chief Executive Officer and Director
Tel: 647-643-TRIP (8747)
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events.
The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the Company’s performance, business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones; the Company’s future growth prospects and intentions to pursue one or more viable business opportunities; the development of the Company’s business and future activities following the date hereof; expectations relating to market size and anticipated growth in the jurisdictions within which the Company may from time to time operate or contemplate future operations; the market for the Company’s current and proposed product offerings, as well as the Company’s ability to capture market share; the distribution methods expected to be used by the Company to deliver its product offerings; the competitive landscape within which the Company operates; the continuation of the Company’s products being maintained or furthered at current or future retail locations including Loblaws and/or Canadian Tire locations; the performance of the Company’s business and the operations and activities of the Company; additional Loblaws and/or Canadian Tire locations being added to the Company’s distribution network in the near term or long term future; the Company increasing its points of sale; the consumer trend of urban gardening and mushroom adoption continuing to grow; and the Company continuing to grow the Happy Cap brand and increasing revenue.
Forward-looking information in this press release are based on certain assumptions and expected future events, namely: current and future members of management will abide by the Company’s business objectives and strategies from time to time established by the Company; the Company will achieve the performance, meet their business objectives and milestones in their anticipated time and within the anticipated cost; the Company will retain and supplement its board of directors and management, or otherwise engage consultants and advisors having knowledge of the industries (or segments thereof) within which the Company may from time to time participate; the Company will have sufficient working capital and the ability to obtain the financing required in order to develop and continue its business, brands and operations; the Company will continue to attract, develop, motivate and retain highly qualified and skilled consultants and/or employees, as the case may be; no adverse changes will be made to the regulatory framework governing psychedelics, taxes and all other applicable matters in the jurisdictions in which the Company conducts business and any other jurisdiction in which the Company may conduct business in the future; the Company will be able to generate cash flow from operations, including, where applicable, distribution and sale of mushrooms and mushroom products; the Company will be able to execute on its business strategy as anticipated; the Company will be able to meet the requirements necessary to obtain and/or maintain authorizations required to conduct the business; general economic, financial, market, regulatory, and political conditions, including the impact of the COVID-19 pandemic, will not negatively affect the Company or its business; the Company will be able to successfully compete in the psychedelic industries; the Company will be able to effectively manage anticipated and unanticipated costs; the Company will be able to conduct its operations in a safe, efficient and effective manner; general market conditions will be favourable with respect to the Company’s future plans and goals; current retail locations will continue to carry the Company’s products; additional Canadian Tire locations will be added to the Company’s distribution network in the future; the Company will increase its points of sale; the Company will continue to be able to utilize and grow its distribution channels; the consumer trend of urban gardening and mushroom adoption will continue to grow; and the Company will continue to grow the Happy Cap brand and increase revenue; the continued growth of the Company; the Company meeting their anticipated timeline and process for growth, sales, production and commercialization; the Company’s products being safe and providing their anticipated benefits; the Company and MISTERCAP fulfilling its future plans and goals, including the launch of the MISTERCAP website and associated merchandise; the MISTERCAP brand and future product offerings of the Company under the MISTERCAP brand succeeding; the Company launching products under the MISTERCAP brand upon the timelines and in the markets disclosed herein; the Company, MISTERCAP launching future marketing and advertising campaigns.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; risks associated with potential governmental and/or regulatory action with respect to the Company’s operations; competition within the markets that the Company operates in; risks with respect to the safety of the Company’s products; the risk that there is no potential benefit of the Company’s products; risk that the Company will be unable to develop its products; production risks for the Company’s products, including logistical delays and risk that the Company will be unable to complete production of its products; risk that the mushroom home grow kit and functional mushroom industries in the North America, along with their legal frameworks, will not develop; the Company’s inability to attract and retain qualified members of management to grow the Company’s business, brands and its operations; unanticipated changes in economic and market conditions (including changes resulting from the COVID-19 pandemic) or in applicable laws; the impact of the publications of inaccurate or unfavourable research by securities analysts or other third parties; unanticipated changes in the psychedelic industries in the jurisdictions within which the Company may from time to time conduct its business and operations, including the Company’s inability to respond or adapt to such changes; the Company’s inability to secure or maintain favourable lease arrangements or the required authorizations necessary to conduct the business and operations and meet its targets; the Company’s inability to effectively manage unanticipated costs and expenses, including costs and expenses associated with product recalls and judicial or administrative proceedings against the Company; risk that the Company will be unable to provide affordable and equitable access adult access to naturally occurring psilocybin; risk that the Company will be unable to add additional Loblaws and/or Canadian Tire or other locations to the Company’s distribution network in the near term or long term future; or at all; risk that the Company will be unable to increase its points of sale; risk that the consumer trend of urban gardening and mushroom adoption will plateau or decrease; and risks that the Company will unable to grow the Happy Caps brand and/or increase its revenue; risk that the Company and MISTERCAP may be unable to fulfill their future plans and goals, including the launch of the MISTERCAP website and associated merchandise; risk that the MISTERCAP brand and/or the product offered under the brand will be unsuccessful and will not sell; risk that the Company will be unable to offer product under the MISTERCAP brand; risks that the Company will be unable to meet the timelines, more specifically the summer of 2023, and/or sell in the markets outlined herein associated with launching products under the MISTERCAP brand or at all; risks surrounding future marketing and advertising campaigns of the Company and MISTERCAP, including how the Company’s marketing budget will be utilized; risks around the quantum owing under the additional payment obligations owed to MISTERCAP pursuant to the terms of the IP Licensing Agreement; risk that the Company, alongside MISTERCAP, will be unable to increase revenues; risk that the Company and MISTERCAP will be unable to fulfill their respective obligations under the IP Licensing Agreement; risk that the Company will be unable to hit certain benchmark sales under the IP Licensing Agreement; risk that the term of the IP Licensing Agreement won’t be renewed following the initial term; risks surrounding additional jurisdictions not permitting sales of the brand’s products in the future.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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